May 3, 2007
Raymond, Alberta. American Creek Resources Ltd. (the "Corporation") (TSX Venture: AMK) is pleased to provide an exploration update for several of the Corporation’s projects located near Kamloops, British Columbia, Canada.
A total of 18 BTW diamond drill holes totaling 3,895.5 meters have been drilled thus far in the initial Austruck-Bonanza program located north of Kamloops. Core logging and sampling took place at American Creek’s facility in Kamloops and all samples were sent to Eco-Tech Laboratory Ltd. in Kamloops for assay. The highest gold values returned to date were from holes 07Bon-01 and 07Bon-02 containing .98 g/t gold with 14.3 g/t silver over 1 meter and 1.52 g/t gold with 15.9 g/t silver over .99 meters respectively (see news release dated March 5, 2007). Results have now been received for the balance of the 18 holes (5 through 18) in which there were no significant results. The Corporation is awaiting permits to expand the program to other areas of interest within the claim group. The Austruck-Bonanza property covers an area of volcanic and sedimentary rocks that have been intruded by dykes and stocks of diorite. Hydrothermal alterations along the margins of the diorite have the potential to host precious metal vein deposits, similar to the Bonaparte mine. As well, the intrusive rocks are similar to those that host the Afton copper-gold porphyry deposit located near Kamloops.
A total of 9 BTW diamond drill holes totaling 1,785 meters have been completed to date on the Empire Project located north of Kamloops. Core logging and sampling has been ongoing at the Corporation’s facility with samples being delivered to Eco-Tech Laboratory Ltd. for assay. American Creek has received assay results for holes 1-4. The drilling intersected volcanic and sedimentary rocks that have been variably altered and contain up to 15% pyrite with zones of pyrrhotite enrichment. The volcanic/sedimentary sequence has been intruded by various bodies of ultramafic pyroxinite to less mafic diorite and granite. Fine mudstone sequences contain abundant pyrite as laminations along bedding and fine cross cutting stringers. Results to date indicate that low to moderate gold values are associated with the sediments, diorite intrusive and later quartz and carbonate veining. Drill hole 07Emp-02 returned the highest gold assay of 1.58 g/t over a 2 metre width from altered sediment (skarn) with minor pyrite disseminate and veining. A narrow (0.5 metre) quartz vein sampled in hole 07Emp-04 contains galena and sphalerite and returned an assay of 0.25 g/t gold with 16.4 g/t silver and elevated lead and zinc. The remainder of holes 2 and 4 as well as holes 1 and 3 contained no significant results. Logging, sampling and analysis of drill holes 07Emp-05 through 09 is presently underway.
The Empire property also contains a number of historic workings. A distinct magnetic linear feature found in the O’Conner Lake area extends north through one of these workings that includes 4 underground drifts and a 25 meter long adit. Inspection of these workings indicate that they follow sediment hosted mineralized quartz veins. Mineralization includes coarse galena, coarse arsenopyrite, pyrite and chalcopyrite. The Corporation has applied for expanded permitting to begin drilling this recently discovered area of interest.
Results of the Geoscience BC geophysical airborne survey that was recently made public showed a very prominent, large (2 x 3 km) anomaly consisting of a strong magnetic high associated with a potassium low on the Corporation’s Goldmist Project located north of Kamloops. Historic records along with recent preliminary prospecting by American Creek, has confirmed the presence of quartz veins (some of which contain gold) on surface in several locations within this anomaly. Further exploration is currently being planned and will be announced at a future date.
White Slide and Legacy Projects
The upcoming airborne geophysical surveys previously announced are expected to be flown around the end of May. Further exploration plans will be based on analysis of the survey results.
American Creek is now one of the largest mineral claim holders in the Kamloops mining camp with properties covering in excess of 600 square kilometers. The Corporation plans to continue and expand ground-based exploration in the area. Work is to include VLF-Em and Magnetometer surveying, Induced Polarization surveying, soil and rock geochemical sampling, and geologic mapping. Target areas are currently being assessed utilizing the previously flown Fugro airborne survey results, as well as the results from the recently released provincial and federal government airborne survey, and all available recorded historic documentation of previous work completed within the claims. The Corporation’s recently procured Geographic Information Systems (GIS) specialist will assist in producing comprehensive maps to be utilized in drill target definition.
An interesting development affecting the Kamloops area projects is the widespread pine beetle infestation that has occurred over the last few years. Plans are underway for major salvage logging operations in the area which will greatly benefit American Creek as new areas become more accessible with new haul roads and skid trails being excavated. With each new access road comes the potential for exposing and discovering new mineralized zones. Also, new beetle related tax incentives just introduced by the BC government will aid in attracting exploration capital to projects within those areas affected.
American Creek has now purchased a total of five diamond drills (one used and four new) as well as the related drill bits, core barrels and tubes, drill rod, etc. in order to ensure that the Corporation’s multiple 2007 drill programs are successfully completed. In addition to the five drills owned by American Creek, two additional drills along with crews have been contracted for the upcoming Electrum program near Stewart, British Columbia.
Perry Grunenberg, P. Geo. is the "Qualified Person" for the purposes of National Instrument 43-101 for the Corporation’s Kamloops area projects. Mr. Grunenberg has reviewed the contents of this news release.
American Creek Resources Ltd. is a well funded Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits. The Corporation has several projects within the Province of British Columbia.
American Creek’s common shares trade on the TSX Venture Exchange under the symbol "AMK".
Certain information contained in this news release constitutes forward-looking statements regarding the Corporation’s mineral properties. Forward looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the reasonable opinions and estimates of management of American Creek and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include: the inherent risks involved in the exploration and development of mineral properties, uncertainties involved in the interpretation of drill results and other geological data, fluctuating commodity prices, unforeseen permitting requirements, changes in environmental laws or regulations, the possibility of project cost overruns or unanticipated costs and expenses, weather conditions, the availability of contractors for equipment and services, the availability of future financing and general business and economic conditions. Such statements are also based on a number of assumptions which may prove to be incorrect, including assumptions about general business and economic conditions being accurate, the timing and receipt of regulatory approvals for projects and operations, the availability of financing, the ability to secure equipment and labour, and American Creek’s ongoing relationship with third parties. The foregoing factors, risks and assumptions are not exhaustive. Events or circumstances could cause actual events or results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are as of the date they are made and American Creek disclaims any obligation to update any forward-looking statements, except as required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.